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A comment on What to Worry About in This Surreal Bull Market. Parent comment

Re:What to Worry About in This Surreal Bull Market by dhimes on Tuesday November 28, 2017 @09:20AM (#15797485)
Attempting and succeeding are two different things. Right before the last real-estate crash I attended a seminar with an economist who spoke at length why there would not be a crash and in the coming spring there was going to be a real estate boom. Quoted lots of economic stuff to back it up (indicators and such- I don't remember but he was definitely convinced).

The field of economics seems to have a ways to go before it can be used reliably to predict things.

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Re:What to Worry About in This Surreal Bull Market by pault on Tuesday November 28, 2017 @11:45AM (#15798840)
It occurs to me that economics today is roughly at the same level of development medicine was circa 1500CE.
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Re:What to Worry About in This Surreal Bull Market by noddy1 on Tuesday November 28, 2017 @01:51PM (#15800165)
Completely agree.

It is further warped by the fact that although the anti-interventionalists are probably right, the interventionalists are the ones who do all the consulting and take all the jobs and give all the advice - because they are .. interventionalists. And who wants to pay a consultant to tell them "don't do anything, and there's nothing you can do."

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Re:What to Worry About in This Surreal Bull Market by meebs on Tuesday November 28, 2017 @12:07PM (#15799054)
The difference being there is an advantage to keeping economics knowledge shady & unknowable. Information asymmetry is one way those with wealth can maintain or grow their wealth. I do not subscribe to conspiracy theories, but I do think enough independent selfish actors will result in a "conspiracy theory"-like outcome.
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